Banco Santander Brasil (NYSE:BSBR) Sees Unusually-High Trading Volume – Here’s What Happened

Banco Santander Brasil SA (NYSE:BSBR) shares saw unusually-strong trading volume on Wednesday . Approximately 2,335,933 shares changed hands during trading, an increase of 97% from the previous session’s volume of 1,183,368 shares.The stock last traded at $5.3850 and had previously closed at $5.39.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Banco Santander Brasil from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings lowered shares of Banco Santander Brasil from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. JPMorgan Chase & Co. dropped their target price on shares of Banco Santander Brasil from $7.00 to $6.50 and set an “overweight” rating for the company in a research report on Tuesday, July 7th. Finally, Zacks Research downgraded Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $6.50.

Banco Santander Brasil Stock Down 1.0%

The stock’s fifty day moving average is $5.35 and its 200-day moving average is $5.96. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.29 and a current ratio of 1.29.

Insiders Place Their Bets

In other news, CEO Mario Roberto Opice Leao purchased 276,851 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was bought at an average price of $5.38 per share, with a total value of $1,489,458.38. Following the acquisition, the chief executive officer directly owned 536,751 shares of the company’s stock, valued at approximately $2,887,720.38. This represents a 106.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eduardo Alvarez Garrido sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $5.43, for a total transaction of $40,725.00. Following the completion of the sale, the insider owned 24,701 shares of the company’s stock, valued at approximately $134,126.43. This represents a 23.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have bought 500,251 shares of company stock worth $2,651,888. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSBR. EverSource Wealth Advisors LLC increased its holdings in shares of Banco Santander Brasil by 251.5% in the first quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock worth $34,000 after acquiring an additional 4,153 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Banco Santander Brasil by 41.6% during the 1st quarter. Royal Bank of Canada now owns 7,136 shares of the bank’s stock valued at $43,000 after purchasing an additional 2,098 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Banco Santander Brasil by 9.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 81,609 shares of the bank’s stock valued at $484,000 after purchasing an additional 6,982 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Banco Santander Brasil by 43.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 221,909 shares of the bank’s stock valued at $1,316,000 after purchasing an additional 67,224 shares during the period. Finally, SPX Gestao de Recursos Ltda grew its position in shares of Banco Santander Brasil by 58.9% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 86,883 shares of the bank’s stock valued at $515,000 after purchasing an additional 32,189 shares during the period. 14.53% of the stock is owned by institutional investors and hedge funds.

Banco Santander Brasil Company Profile

Banco Santander Brasil SA is the Brazilian unit of Spain-based Grupo Santander and one of the country’s major commercial banks. Headquartered in São Paulo, the bank serves a broad client base across Brazil through an integrated network of branches, ATMs and digital channels. Its shares are represented abroad via American Depositary Shares listed on the New York Stock Exchange under the ticker BSBR.

The bank offers a full range of financial products and services for retail, small and medium-sized enterprises, and corporate clients.